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Coss

Insurance mandatory for long-stay foreigners

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K.S. I think the world Insurance industry have 'greeded' themselves into a corner

Here in NZ, all of the big companies are either raising premiums, cancelling policies, and/or refusing new business.

Why? well 20, 30, 40, 50 yrs ago, they agreed to insure a bunch of folks. Yes us, the NZ public, we had money, they wanted it.

They priced in the risk, calculated the premiums, and collected the premiums all this time. Then there was an earthquake and they had to pay out a lot. They don't wanna.

So their basic deal, the one they proposed and agreed to, has fallen over.

Scum sucking thieves, and they won't refund the premiums, for the cancelled policies either, government is getting involved, but noises are being made, about "too big to fail"and other such bull shit.

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